Paul Ceglia has filed a suit in New York Supreme Court claiming 84 percent of Facebook, and 84 percent of its revenues since 2004. According to a contract he signed with Mark Zuckerberg, the founder and principal owner of Facebook, Ceglia agreed to design a website that would eventually become Facebook for a $1,000 fee plus a 50 percent stake of the resulting company. The agreement also stipulated that Zuckerberg would pay him one percent for each day until the website was completed, until 4 February 2004.

Facebook is expected to contest the charges. “We believe this suit is completely frivolous and we will fight it vigorously,” said a Facebook spokesman in a statement. Ceglia has had problems with the law before, having been accused of taking $200,000 in customers’ money and then not delivering promised wood-pellets fuel.

Legal experts believe the claim may run afoul of New York State’s statute of limitations on contracts, which is six years.

Links to other sites: CNet, Wall Street Journal

Posted by Sean Ecker on 13 July 2010 at 11:15, last updated on 14 July 2010 at 7:51 | permalink
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News story, GenevaLunch, 13 July 2010.

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  1. Today’s Links Says:
    July 14th, 2010 at 3:21 am

    [...] Man claims 84 percent of Facebook - GenevaLunch [...]

Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported
This work by genevalunch.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.